$631M in crypto longs liquidated in 24 hours as leverage bites again

Bullish traders using borrowed money were forced out as Bitcoin swung between $76,000 and $80,500 Crypto traders betting on higher prices just had a rough day. Over the past 24 hours, $631 million in long positions were liquidated across crypto markets. Bitcoin spent the period moving between roughly $76,000 and $80,500. A swing like that sounds modest for crypto. For traders running on borrowed money, it was enough to blow up positions in bulk. What actually got wiped out A long position is a bet that an asset’s price will rise. When traders use leverage, they borrow funds to make that bet bigger. The catch is that the exchange holds the deposit as collateral. If the price drops far enough, the collateral can no longer cover potential losses. At that point, the exchange closes the position automatically. That forced exit is a liquidation, and the trader has no say in it. The $631 million figure covers only the bullish side of the ledger. Those were traders positioned for gains who got pushed out when prices moved against them. Data compiled for November 5, 2026, showed long liquidations topping $200 million on multiple occasions throughout the day. The pain did not arrive in one t...